The founders of cloud startup Beacon give banks, trading firms and asset managers easier access to cutting edge software. Here's the pitch deck they used to raise $20 million
- Beacon, a New York-based cloud startup, offers banks, asset managers and trading firms access to cutting edge software. The company just raised $20 million in a Series B round led by Centana Growth Partners.
- The Beacon platform offers pre-built applications and other tools for analyzing data, improving operations and making sure they're complying with regulations.
- Here's the pitch they used for their latest round. Beacon has raised a total of $39 million from investors, including PIMCO and Global Atlantic.
- Click here for more BI Prime stories.
Technology can be a competitive game-changer in financial services. But for banks, asset managers and trading firms, deploying cutting edge software can be time-consuming, tedious - and expensive.
The cloud is changing that. Cloud companies are making it easier and less expensive to use these tools on web-based platforms. One of them is Beacon, a New York-based startup, which just raised $20 million in a Series B round led by Centana Growth Partners.
Beacon offers banks and financial services firms access to pre-built applications and other tools for analyzing data, improving operations and making sure they're complying with regulations.
The Beacon platform, which is now used by the Commonwealth Bank of Australia, Shell New Energies and SMBC Capital Markets, dramatically helps clients save time and money, Kirat Singh, Beacon's co-founder and CEO, said.
"You can plug in your own data. You can plug in your own analytics and focus just on that," he told Business Insider.
Mark Higgins, another co-founder who is Beacon's chief operating officer, said they make it possible for financial services companies to use technology to run their business "without having to go through what people have to do back in the 90s which was build the entire infrastructure and data and financial models and data models and all sorts of stuff,"
"We provide that entire stack running in the cloud," he told Business Insider.
Beacon, which was founded in 2014 and has about 70 employees, has raised $39 million from investors, including PIMCO and Global Atlantic.
Here's the pitch deck the startup used: